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high. the average technology stock, 11% from its 52-week high, if we get another 3% to 5% down in stocks, then i think that cash on the sidelines should be absolutely put to work, because the next two or three years still bodes quite well for the stock market relative to most other asset classes. >> i may have to break in momentarily when those american express earnings come out. but first, jerry webben, let me ask you, the fear has been this week with news out of china, some of the economic data that we've gotten here, that maybe the global growth rate is slowing down. do you sense that at all? >> i think, yes, both in the u.s. and in china, we've seen some slowness in the emerging markets and europe remains extremely weak, but you've got to look at those growth areas in the u.s. with, that include auto sales remain strong, housing sector remains strong, personal consumption is not great, but it's okay, employment is better. >> all right, guys, let me break in. here we go. so they were expecting on american express $1.12, they got $1.15. so a beat, apparently, by 3 cents. the
worked with elsewhere, like samsung. >> so basically light across all three of these major technology companies. what does that tell you about the broader market here and the broader economy? >> that's got to be really worrisome. when you're four years into an economic recovery and the biggest and best companies in the country cannot manage significant revenue growth, it tells you just how weak the underlying pace is. and from a broader perspective, it does make me worried that the big rally we had in the first quarter was somewhat not fundamentallpp see the broader economic numbers start to turn around. i want to see good signs in next week's gdp number, that there's momentum in the second quarter. most of all, i would love to see payrolls for april come in somewhere close where the market thinks, which is 150,000. right now, the kind of stuff i'm seeing from claims, from the weekly data, where fr what the stock markets are telling me, i think we need to be prepared for more disappointments on the macro economy side for the next few weeks. >> heather hughes, do you like technology? o
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